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SEC charges advisers with breaching fiduciary duty over fund choices
Hybrid Ambassador Advisors used 12b-1 funds instead of less costly versions
SEC puts pressure on fee transparency in increasingly complex wrap accounts
The regulator often includes the fees among its annual examination priorities, however they were not on the list this year
Lawyers slow to embrace Zoom for Finra arbitration hearings
In-person sessions, suspended during the pandemic, allow for better presentation of evidence and arguments, they say
Powell plays down possibility of negative Fed rates
The Fed chairman cited the risk that the pandemic will cause the U.S. lasting economic harm
Court orders Florida Ponzi duo to pay $1.8 million penalty
Neil Burkholz and Frank Bianco are also required to disgorge more than $860,000
Morgan Stanley hit with $5 million penalty for misleading clients in wrap account program
The SEC charged the wirehouse with not fully disclosing fees for five years
Showdown in 2nd Circuit over Reg BI
The smart money is betting the SEC will prevail in the challenge to its new rules scheduled to take effect June 30
Fed to begin buying corporate bond ETFs Tuesday
The Fed said another program to buy debt directly from issuers will launch 'in the near future'
Finra delays launch of online securities licensing exams
An update on the regulator's website says more time needed for system testing
Plaintiff in failed 401(k) suit files new case against ADP
McCaffree Financial, which unsuccessfully sued Principal Life, recently brought an unrelated case against ADP
Digital currencies are more regulated than you think
The past few years have seen significant growth in regulatory clarity for at least a certain segment of this asset class
New rules on bailout loans confuse borrowers
Some smaller companies have joined the rush to return PPP loans in response to the Trump administration's rules and guidance
Finra projects operating loss, potential drawdown of reserves
Broker self-regulator says it will not increase regulatory fees for member firms this year
Court’s decision on Reg BI lawsuit could come down near implementation date
The 2nd U.S. Circuit Court of Appeals agreed to an expedited oral argument in early June
Finra fines former LPL rep for falsifying client net worth
Donald Woods inflated retirees’ wealth figures so that he could sell them REITs
Finra slashes mediation fees in response to coronavirus shutdown
Mediators will work remotely for $100 an hour; so far, 85 agree to participate
Rep fined $5,000 for cheating on Series 24 exam
Spencer Sullivant, a former Waddell & Reed rep, was also suspended for 18 months
Big US stock traders get SEC OK to start own exchange
Heavyweights backing Members Exchange, which include Morgan Stanley, hope the venture will reduce the cost of market data
Remote securities license testing could create new normal
Finra and state administrators are set to launch online testing for Series 6, 7, 63, 65 and 66 exams
Finra fines former LPL rep for trading away
Michael Mountjoy was also suspended for six months by the regulator
